Starbucks Corporation has plans to expand its K-Cup line to include brands such as Teavana and Seattle’s Best Coffee, and to continue its partnership with Green Mountain Coffee under a five year agreement, as Bloomberg reports. K-Cups are single service beverage pods, that typically serve 1 portion of coffee or tea.
Green Mountain Coffee’s K-Cups are available for use in a Keurig brewing system. while last year, Starbucks created the Verismo, a single-service K-Cups brewing system. In addition to incorporating Teavana and Seattle’s best K-Cups, Starbucks has announced the inclusion of a cocoa line of K-Cups.
Selling Green Mountain K-Cups since March of 2011, Starbucks has seen a 75% surge in sales of the coffee pods.
As The Wall Street Journal reports, Howard Schultz, CEO of Starbucks, was quoted saying, “The new agreement "strengthens our leadership position in the premium single cup category, the segment of our industry that has grown nine times faster than the overall coffee category during the past year and a category that now accounts for more than 25% of total coffee sales in grocery."
SOURCE: Bloomberg, The Wall Street Journal
Selling Green Mountain K-Cups since March of 2011, Starbucks has seen a 75% surge in sales of the coffee pods.
As The Wall Street Journal reports, Howard Schultz, CEO of Starbucks, was quoted saying, “The new agreement "strengthens our leadership position in the premium single cup category, the segment of our industry that has grown nine times faster than the overall coffee category during the past year and a category that now accounts for more than 25% of total coffee sales in grocery."
SOURCE: Bloomberg, The Wall Street Journal